chapter 13 question 4

Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits Credits by: $ 136,300 171,000 Credits Debits by: $ 83,700 4,600 118,000 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 90,000 273,000 65,500 49,000 5,000 9,500 404,000 126,000 76,200 5805, 900 $ 805,900 The following additional information is available about last year's activities: a. Net income for the year was $_? b. The company sold equipment during the year for $35,900. The equipment originally cost $160,300 and it had $126,100 in accumulated depreciation at the time of sale. c. Cash dividends of $10,000 were declared and paid during the year d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below. a. Net income for the year was $_? b. The company sold equipment during the year for $35.900. The equipment originally cost $160,300 and it had $126100 in accumulated depreciation at the time of sale, c. Cash dividends of $10,000 were declared and paid during the year. d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below; Plant and equipment Accumulated depreciation Beitinning Ending 32,920,000 $2,193,000 $ 976,400 $1,041,900 e. The balance in the Cash account at the beginning of the year was $109,700 the balance at the end of the year was $_2 f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash out amounts.) Yoric Company Statement of Cash Flows Operating activities 0 0 Investing activities 0 0 Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits Credits by: $ 136,300 171,000 Credits Debits by: $ 83,700 4,600 118,000 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 90,000 273,000 65,500 49,000 5,000 9,500 404,000 126,000 76,200 5805, 900 $ 805,900 The following additional information is available about last year's activities: a. Net income for the year was $_? b. The company sold equipment during the year for $35,900. The equipment originally cost $160,300 and it had $126,100 in accumulated depreciation at the time of sale. c. Cash dividends of $10,000 were declared and paid during the year d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below. a. Net income for the year was $_? b. The company sold equipment during the year for $35.900. The equipment originally cost $160,300 and it had $126100 in accumulated depreciation at the time of sale, c. Cash dividends of $10,000 were declared and paid during the year. d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below; Plant and equipment Accumulated depreciation Beitinning Ending 32,920,000 $2,193,000 $ 976,400 $1,041,900 e. The balance in the Cash account at the beginning of the year was $109,700 the balance at the end of the year was $_2 f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash out amounts.) Yoric Company Statement of Cash Flows Operating activities 0 0 Investing activities 0 0 Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0